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Business competition places Maharishi University of Management students in real-life situations
by Global Good News staff writer
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4 September 2012
All four teams from Maharishi University of Management's MBA in Accounting programme excelled in a recent continent-wide business competition.
The students participated in the Foundation Business Simulation Experience created by Capsim Management Simulations, a leading provider of online games and simulations used widely by educational institutes to supplement the learning experience.
Each of the teams from Maharishi University of Management placed in the top tenth percentile in the competition, out of 97 participating teams.
MUM Professor Andrew Bargerstock, director of MBA programmes for the university, explained in depth how the simulation works.
The U.S. Securities and Exchange Commission, a regulatory body that governs interstate trade of securities, broke up a monopoly into six companies.
The MBA in Accounting class had four teams, each representing one of the newly created companies, while the results of the remaining two companies were computer generated. Each team had equal balance sheets and market shares. Then the class did four rounds of practice to get familiar with the rules and how to make decisions and see the results. Next, they reset the game (as per the instructions from Capsim), and proceeded into eight rounds of competition.
Each team was judged based on a set of both short-term and long-term performance metrics. They use the concept of the Balanced Scorecard that was developed by Robert Kaplan at Harvard. The students learned how to calculate these performance metrics and then how to earn points on them.
One of the challenges comes from having to balance the short-term and long-term effects because the total score is a based on performance in each of the eight rounds of competition, plus an accumulated long-term composite score.
Based on that total score, teams were evaluated and compared to all the other MBA teams in North America within the previous six months.
'This is a rolling simulation,' Professor Bargerstock said. 'It is not something that's done where everyone is competing at the same time, but the data we're looking at and comparing our results to includes all those other[competing] MBA schools.'
* Among other special features of the unique approach to MBA education at MUM, students learn the most widely practised, extensively researched, and most effective method of self-development in the world. All students practise the simple, natural technique of Transcendental Meditation each day to improve learning ability, optimize brain functioning, and reduce stress.
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